Imint delivers solid Q1 numbers

Research Update

2017-05-11

12:58

The revenues from license fees trended upwards from 1,7 mSEK in the previous quarter to 2,0 mSEK in Q1 2017. EBIT came in at -2,4 mSEK which was slightly better than our expectation of -2,9 mSEK. We believe that the deal with Japanese Sharp is a positive indication of Imints competitiveness versus their Japanese competitor, Morpho. The pause in the cooperation with Samsung has no impact on our estimated fair value since we have not ascribed any value to the project due to lack of information. All in all, the reported figures for Q1 2017 were close to our expectations. We therefore feel confident in our quarterly projections for 2017 and reiterate our estimated fair value of 71 SEK per share in the Base case scenario.

JE

JW

Johan Ekström

Joel Westerström

Disclosures and disclaimers

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